Pataki outlines ambitious plans for WTC site.

As a 'Who's Who' of New York business leaders looked on, Gov. George Pataki outlined a bold new plan for the revitalization of Lower Manhattan. Evoking the memories of those lost on Sept 11, 2001, the governor pledged an "economic rebirth."

If any in the overflow audience at the April

24 Ritz Carlton event had doubts, they were muffled by thunderous applause as Pataki told the assembled luncheon audience what they came to hear. And in opening comments, ABNY chairman William Rudin pointed to the opening of a new Borders Book Store and the relocation of HIP to 55 Water St. as evidence of the economic turnaround in Lower Manhattan.

However, Pataki was clearly the star of the moment. Despite some protestors outside of the hotel, the governor was on friendly ground. "I am announcing a plan for a 21st century transportation network that befits the nation's third largest central business district and the financial capital of the world," he said. "This will be an aggressive schedule that will serve as a catalyst for the economic rebirth of Lower Manhattan. Working with Mayor Bloomberg and our New York City partners, we will move quickly and decisively to create a transportation system, that will be the envy of the world."

The transportation blueprint, called Lower Manhattan Transportation Strategies, consists of four fundamental pillars:

* To create a new grand point of arrival in Lower Manhattan (similar in grandeur to Grand Central Terminal)

* To rationalize and improve Lower Manhattan's tangled web of subway lines

* To provide a respectful setting for a memorial and create a grand promenade along West Street

* To create direct rail and ferry access to Long Island and the region's three major airports

Perhaps the most important aspect of the downtown rebuilding effort will focus on mass transit. "The Lower Manhattan Transit Complex will consist of a new PATH terminal on the World Trade Center site and a new Fulton Street Transit Center at Broadway and Fulton, connected by an underground concourse. It will become a new architectural icon for Lower Manhattan," said Pataki.

(It will be equipped with longer platforms that can accommodate 10 PATH cars instead of the previous 8; thereby increasing capacity by 25%. Expected opening is 2006. Estimated cost is $1.7 billion to $2 billion.)

The governor also announced that the Port Authority would move up its completion s\date for its temporary PATH station in Lower Manhattan. Thus, service will be restored for 65,000 commuters from New Jersey. The Exchange place PATH station in Jersey City is expected to re-open this summer. Riders have had to travel to Grove Street and either walk or take a bus to reach waterfront offices. Plans also call for restring Fulton and Greenwich Streets through the WTC site and remaking West Street into a tree-lined promenade; with fast-moving highway traffic diverted underground via a new tunnel from Vesey Street to Liberty Street. The MTA will proceed with a plan for a completely redesigned South Ferry subway station that will accommodate the full length of a typical 10-car subway train, rather than the five-car platform that exists at present.

Further, the Port Authority will facilitate ferry service between Lower Manhattan and JFK airport by 2005. A ferry will also run between Lower Manhattan and a new LaGuardia ferry terminal. The PA will also begin work on extending PATH to Newark Airport.

In addition, the LMDC will undertake a number of initiatives. Those include:

* Funding $10 million in enhancements to open spaces throughout Lower Manhattan - in Chinatown, the Lower East Side, Tribeca and elsewhere, creating a network of parks and recreational spaces in communities where they are in short supply.

* Funding an additional $4 million to Downtown Alliance's Streetscape program to finish transforming lower Broadway into a boulevard with new sidewalks, curbs and lighting.

* Finding ways to maintain security around the NYSE while also beautifying the area and improving access

In addition, a $7 million "I Love New York" tourism campaign that market will Lower Manhattan to an international audience will include a commercial to be in the United Kingdom.

"I thought the speech was good," said Julie Menin, president of Wall Street Rising. "Most importantly, it established a timeline for desperately needed quality of life and transportation projects. I have been advocating throughout the year for many of these quality of life improvements which will ameliorate conditions downtown for residents, workers and businesses and I am delighted that they will soon come to fruition."